Advanced Drainage Systems, Inc. (NYSE:WMS) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of Advanced Drainage Systems, Inc. (NYSE:WMS) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,271 shares of the construction company’s stock after acquiring an additional 79 shares during the period. CIBC Asset Management Inc’s holdings in Advanced Drainage Systems were worth $357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in Advanced Drainage Systems by 11.8% in the 1st quarter. US Bancorp DE now owns 2,475 shares of the construction company’s stock valued at $426,000 after purchasing an additional 262 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Advanced Drainage Systems during the first quarter worth about $384,000. O Shaughnessy Asset Management LLC boosted its position in Advanced Drainage Systems by 16.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,610 shares of the construction company’s stock worth $450,000 after acquiring an additional 361 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Advanced Drainage Systems by 24.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock valued at $11,006,000 after acquiring an additional 12,655 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Advanced Drainage Systems in the 1st quarter valued at about $340,000. 89.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WMS has been the topic of several recent research reports. Barclays lowered their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Stephens reissued an “equal weight” rating and set a $135.00 price objective (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Oppenheimer reduced their price target on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Loop Capital reduced their target price on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $128.41 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. The company has a 50 day moving average price of $149.26 and a 200 day moving average price of $157.89. Advanced Drainage Systems, Inc. has a fifty-two week low of $117.97 and a fifty-two week high of $184.27. The stock has a market capitalization of $9.95 billion, a P/E ratio of 20.45, a PEG ratio of 1.17 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The firm had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. During the same quarter in the prior year, the firm posted $1.71 EPS. Advanced Drainage Systems’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.5 EPS for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is 10.19%.

Advanced Drainage Systems Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.